Recently, the General Department of Vietnam Customs announced that, the two-way trade turnover between Vietnam and Japan during the first half of 2022 reached over US$20 billion. In particular, Vietnamese exports brought in US$11.38 billion, representing a year-on-year rise of 13%.
Vietnam's export items are quite diverse, ranging from agricultural products to processing and manufacturing items. In the first six months of the year, there were 3 groups of export items with the value of US$1 billion or more, including: textile and garment with nearly US$1.67 billion; machinery, equipment, tools and spare parts reached US$1.364 billion; means of transport and spare parts reached US$1.2 billion.
Other items earning high export turnover are seafood with US$800 million, computers, electronic products and components with US$603.7 million, phones and components with US$538.7 million, footwear with US$495.8 million, and plastic products with US$386 million.
Meanwhile, six-month imports from Japan surged by 10.6% to US$12 billion year-on-year. Key import items are computers, electronic products and components valued at US$3.5 billion, machinery, equipment, tools and spare parts at US$2.14 billion and iron and steel at over US$1 billion.
As a result, Vietnam skipped into a trade deficit of just US$620 million with Japan in the six-month period.
Last year, bilateral trade between the two sides reached approximately US$43 billion, of which exports stood at US$20.13 billion and imports at US$22.8 billion.
Currently, the scale of import-export turnover between Vietnam and Japan ranks fourth, behind China, the United States, and the Republic of Korea (RoK).
